Highland Capital Partners invests in company delivering virtual events
InXpo, a company which creates branded virtual events,
said today it's secured $9 million in its first round of funding, led by
Highland Capital Partners.
Founded in 2004, InXpo has focused on delivering virtual conference-like events to its clients. Malcolm Lotzof, CEO of InXpo said, "We have always known that continuously increasing travel costs and related inconveniences, combined with rapidly improving social media technologies, would make the adoption of virtual events a force of nature rather than a question."
InXpo said it has been growing rapidly to meet demands for companies looking to cut costs by making their training events and meetings virtual. It has delivered over 600 virtual events to over 500,000 unique individuals worldwide. Some of its clients include brand-name organizations like AAA, Cisco, Procter & Gamble as well as Forbes Media and Ziff Davis Enterprises.
Today, InXpo and Cisco actually are delivering a completely virtual conference called the Global Sales Event (GSX). Apparently there are more than 20,000 attendees virtually experiencing the conference from their desks across 89 countries.
Peter Bell, General Partner of Highland Capital Partners believes, "Virtual events and environments have gone from being a trend to a 'must-have' for global enterprises and publishers."
InXpo said it would use the funding to drive world wide market leadership and continue working on its platform.
Steven Loeb